15 Court StCrown Point, IN 46307

Property Details for 15 Court St

Year built

1885

Construction

WOOD

Lot size

0.13 AC

Property size (Sq ft)

3,175 SF

Property type

Turn key restaurants

APN

45-16-08-131-015.000-042

APU

451608131015000042

Description

This exceptional single-tenant property, located at 15 N Court St in Crown Point, Indiana's Historic District, presents a rare opportunity. The 3,200 square foot building, situated on a 0.13-acre lot (5,662.8 sq ft), boasts a captivating blend of historic charm and modern convenience. Built in 1885, this one-story structure features a beautiful red brick interior, a full windowed facade offering stunning views of the Old Court House and the Square, and a charming courtyard. The space is ideally suited for a variety of uses, including retail, office, or restaurant, and previously operated as "The Registry." The property includes central air and forced-air heating, a slab foundation with concrete flooring, and readily available utilities (electricity, natural gas, water, and sewer). Zoned B1, the property's location in the Historic District offers the potential to maintain a liquor license (subject to City of Crown Point approval). A modified gross lease is available at $6,000 per month, with tenant responsibility for utilities and trash removal. The APN is 45-16-08-131-015.000-042. This is a truly unique opportunity to revitalize a legendary location in the heart of Crown Point.

• CAP approach

  CAP return

  Valuation

  6%

  $1,499,921

  6.5%

  $1,384,543

  7%

  $1,285,647

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,042,130

  Geo Method

  $1,042,130

• Alternative Use

  Use

  Valuation

  Residential

  $1,167,914

  Hospitality

  $1,069,802

  Educational

  $890,063

  Medical

  $920,674

  Retail

  $1,384,543

Location Insight

City

Crown Point

County

Lake

State

Indiana

Latitude

41.4178

Longitude

-87.366

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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